Retrieving "Overproduction" from the archives

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1. Classical Economics

   Linked via "overproduction"

   A cornerstone of Classical thought, most prominently articulated by Jean-Baptiste Say, is Say's Law. Stated simply: "Supply creates its own demand." This principle asserts that the very act of producing goods (supply) generates sufficient income (in the form of wages, rent, and profit) to purchase all the goods produced.
   Consequently, Classical economists strongly believed that general gluts or sustained overproduction were impossible in a free market. Any temporary imbalances were qui…